Central Bank of UAE is now also encouraging UAE nationals and residents to go cashless. Here is the list of top 10 E-wallets in the UAE.
A Salary Account is opened to credit the monthly salary of the employees. This Account is opened upon the request of major companies and corporations.
Each employee gets their own account to be operated and use as they deem fit. Meanwhile, when the time comes to pay the salary, the bank credits the salary to the employees’ account from the company’s account.
Account holders should note that when a Salary Account isn’t used for a certain period of time, it is converted to Savings Account.
Also, most salary accounts in the UAE don’t offer profit rates on deposits or savings.
Salary accounts have very low or no requirements for minimum balance. Salary accounts also make the payment of utility bills easy and convenient.
Some salary account can have Joint account holders. However, the applicants for the Joint Account will need identification proofs.
Salary account holders receive additional benefits like easy loan approval, credit cards, etc.
Some of the features and benefits of the Salary Accounts include the following:
Some of the best banks for the Salary Account includes:
|RAKBANK||A Minimum monthly salary of AED 5000 is required|
|ADIB Bank||A Minimum monthly salary of AED 8000 is required|
|Ajman Bank||No requirements for a minimum or average balance|
|Standard Chartered Bank||Minimum Salary Transfer of AED 5000|
|Abu Dhabi Commercial Bank||Minimum balance of AED 5000|
|Union National Bank||No requirements for a minimum or average balance|
To open a Salary Account in the UAE, these are some of the basic requirements:
To open a Salary Account in the UAE, the customers should visit the nearest branch of the bank.
Q1: What is the minimum salary requirement to open a salary transfer account in the UAE?
Ans: The minimum salary requirements differ for every bank. However, most banks require a minimum salary of AED 5000 to open a salary account in the UAE.
Q2: Which documents can be submitted as proof to open a Salary transfer account with the banks in the UAE?
Ans: To open a Salary Transfer Account with the banks in the UAE, you can submit any of the following documents as proof of salary:
Q3: How can I close a Salary Account in the UAE?
Ans: To close the Salary Account in the UAE, the customer will have to visit the nearest branch of the bank.
Q4: What are the documents required to open a Union National Bank Salary Account?
Ans: The Union National Bank requires the following documents to open a Salary Account in the UAE:
Q5: What are the documents required to open a salary account in the UAE?
Ans: The documents required to open a Salary Account in the UAE are as follows:
Q6: Is it necessary to be an existing customer with the Bank to open a Salary Account in the UAE?
Ans: No. It is not necessary to be an existing customer of the bank to open a Salary Account in the UAE.
Q7: Can an expat open a Salary Account in the UAE?
Ans: Yes, an expat can open a Salary Account in the UAE. However, he or she will have to be a resident of the UAE.
Q8: Do I have to maintain the monthly balance in the account with the Salary Account in the UAE?
Ans: That would depend on the bank you have the Salary Account with. Some banks require a monthly balance to be maintained while some banks don’t.
Q9: Can I open the Salary Account if I have a salary of AED 3000 per month?
Ans: Yes, some banks in the UAE will open a salary account for the customers with a salary of AED 3000 per month.
Q10: What are the documents required to open a Salary Account for the expats in the UAE?
Ans: The expats will need to present the following documents to open a Salary Account in the UAE: